News Release: HAMILTON, Bermuda – In January 2011, Mr Jeffrey Bevan, (a UK national), commenced temporary employment with the Government of Bermuda as Payments Manager at the Department of Accountant General (ACG).
Mr Bevan was employed on a three-year contract with responsibility for managing and administering operations of the Payments Section, to ensure provision of accurate financial reports and that established financial controls and accounting standards were adhered to.
In May 2013, Mr Bevan ended his contract and returned with his family to Wales, UK.
In October 2013, an internal audit at the ACG revealed that Mr Bevan stole $71,096.78 by transferring funds from the Department’s account to his HSBC Bermuda bank account by use of the computerized payments system.
A full audit revealed that Mr Bevan had stolen $2,452,135.42 in Government funds between May 2011 and May 2013, by transferring funds from the Department of Accountant General to his and his wife’s local HSBC accounts.
The funds were layered by using internet banking to cross fire funds between their respective sole HSBC accounts and then further internet transfers to their numerous sole, joint and business accounts held in the UK.
The Bermuda Police Service commenced enquiries & established that the Bevan’s HSBC accounts had been closed and the money trail tracked the stolen funds to the UK.As the BPS does not have regulatory powers in the UK to obtain banking documents, or initiate restraint, investigators requested international assistance from their partners at the Welsh Regional Asset Recovery Team (RART).
The Bermuda Department of Public Prosecutions was informed and a joint investigation strategy was agreed upon. It was also agreed that after conviction in the UK, an application for confiscation proceedings to seek compensation for the Government of
Bermuda would be made.
In November 2013, RART commenced a money laundering investigation to identify assets held by Mr Bevan, his wife and known associates. Traced assets included purchases of vehicles in Wales, a race horse in Ireland and fourteen properties in
England, Scotland and Wales.
Charges:
Theft, Concealing or transferring the proceeds of crime, Acquisition, possession or use of the proceeds of crime, Pervert the Course of Justice and Witness intimidation.
Convictions:
On 16 February, 2018 Mr. Bevan pleaded guilty to money laundering and was convicted.
The case against Mrs. Bevan was discharged. Their associates, Mr Joel Ismail and Mr Paul Charity, were acquitted of money laundering. However, Mr Charity was convicted of perverting the course of justice.
Sentencing:
Mr Bevan was sentenced to 7 years and 4 months imprisonment. Mr Charity was sentenced to 8 months imprisonment.
This week, the Bermuda Government received final payment on the confiscation order made by the UK courts, which brings this matter to a conclusion.
Upon receiving this information, Superintendent Nicholas Pedro, the Officer in Charge -Serious Crime – stated: “The Bermuda Police Service would like to thank its partners in the Office of the Accountant General for their early detection of this matter, the office of the Director of Public Prosecutions, officials at HSBC Bermuda as well as our colleagues in the Welsh Regional Asset Recovery Team, for all their efforts in bringing this matter to a conclusion favourable to the Government and people of Bermuda.
I would also like to thank and acknowledge our team members in the Financial Crime Unit, whose tenacity, analysis, and diligence, resulted in the identification, recovery, and restitution of significant stolen assets to the Bermuda Government.
Our ability to work across borders with our international partners and conduct complex investigations into serious financial crime is an important feature in our mandate to protect Bermuda as a leading international financial center.”
Update: The Accountant General’s office has now indicated the monies recovered in the Jeffrey Bevan matter, was part payment of the outstanding amount.
